{quote} I wonder if orderflow could help you, since big players use automated trading, place and withdraw orders constantly. There is much noise there right?
There are 3 main components to observe: 1) Price 2) Time 3) Volume
I take a look at Supply & Demand, Orderflow, Market Profile, Volume Profile.
Do not know if you already talked about that in the thread since I was not able to read through the whole thread.
Back to your question..
Orderflow is useful and since I'm more into the topic my sight of trading has completly changed and you're still able to see those big player, because they also need their orders to get filled. They do not place their order at price x,xxx with a huge amount of contracts, that's why iceberg orders and many different scenarios happen so it is not that obvious for everybody.
Of course there is much noise going on there but I'm not sitting in front of the PC starring at every order showing up (ok maybe if I'm scalping
).Orderflow gives me confirmation (daytrading / scalping) if I should still be in that trade or not but it is not an entry criteria for me because you'll never get that pinpoint entry all the time.
I use most of the time market orders and avoid the huge movements straight through the zones we are looking to get in and there is an advantage using order flow to see how the market reacts there.
I'm still a noob when it comes to orderflow as is still need to get alot more experience but that's my opinion up to here
.